Lagos Begins Crude Oil Production

Lagos Begins Crude Oil Production

The Yinka Folawiyo Petroleum Co. Ltd (YFP) is pleased to announce the commencement of crude oil production from its Aje field in block OML 113, offshore Lagos.

The company did not disclose the amount of output per day but has assured Nigerians of 40,000 barrels per day.

The company stated that, ‘oil produced from the Aje field will be stored on the Front Puffin which has production capacity of 40,000 barrels per day and storage capacity of 750,000 barrels.

This is coming after more than 25 years of exploration in the field, making Lagos an oil producing state.

This is contrast to the concentration on the Southern delta states which has been disturbed by unrest and interference from militants.

This would considerably add to Nigeria’s revenue.

Source: Vanguard.